Jae Ho Chung's Assessing China’s Power PDF

By Jae Ho Chung

ISBN-10: 1137534613

ISBN-13: 9781137534613

ISBN-10: 1137537078

ISBN-13: 9781137537072

The subject of China's upward push and what it relatively skill for the worldwide and neighborhood order is the topic of extreme debate. during this quantity, best students tackle China's energy this present day, examine China's strength with that of the us, and forecast China's strength in 2025.

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Example text

This is easier to demonstrate for the US economy than for China: the depth, liquidity, and relative transparency of the US monetary and capital markets make it a haven even at times of sharp economic uncertainty, or perhaps even more during those times. The same case cannot be—yet—made about China. But China has a control over its economy that lends it distinct advantages: huge savings and external account surpluses coinciding with capital control, a top-down financial system where banks obey their political masters, a work force that is a mere production factor rather than the organized labor we (still) see in most developed economies.

This is no less of an issue of political economy, but it is not one that is commonly associated with a developing economy. If the United States borrows from China in conventional financial terms, China certainly “borrows” from the United States in educational terms. There are 287,000 PRC students enrolled in US universities (29% of all foreign students)26 —constituting a sizeable cohort even at top US institutions (16% of all foreign students at Harvard in 2012–2013, 22% of all foreign students at Yale in 2012–2013).

If the United States borrows from China in conventional financial terms, China certainly “borrows” from the United States in educational terms. There are 287,000 PRC students enrolled in US universities (29% of all foreign students)26 —constituting a sizeable cohort even at top US institutions (16% of all foreign students at Harvard in 2012–2013, 22% of all foreign students at Yale in 2012–2013). 8 billion). Recently, the Financial Times has asserted that the provision of higher education in the United Kingdom to foreign students should be viewed as an invisible export.

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Assessing China’s Power by Jae Ho Chung


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